PT Tower Bersama (TBIG) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2024 reached Rp 3,414,276 million, up 4.1% year-over-year.

• Net profit for the period was Rp 760,050 million, an increase of 6.1% compared to the same period last year.

• EBITDA and operating income remained robust, with gross margin at 72.2% for the period.

• The company distributed cash dividends totaling Rp 683,623 million, paid on 3 July 2024.

• No significant expansion or downsizing occurred during the reporting period.

Financial highlights

• Revenue increased to Rp 3,414,276 million from Rp 3,279,861 million year-over-year.

• Net profit attributable to equity holders was Rp 730,798 million, up from Rp 688,796 million.

• Basic earnings per share rose to Rp 32.29 from Rp 27.39 year-over-year.

• Total assets grew to Rp 47,911,203 million, with equity at Rp 11,886,739 million.

• Cash and cash equivalents at period end were Rp 775,450 million.

Outlook and guidance

• The company continues to focus on maintaining a strong capital structure and liquidity.

• Strategy includes keeping net senior debt to annualized adjusted EBITDA below 5x.

• No material impact from ongoing legal cases; management expects to prevail.